Robinhood announced earlier this week that it will add four new cryptocurrencies to its platform, allowing consumers to buy and sell even more crypto coins.
The news: Robinhood said four new crypto coins will join the app:
- Compound (COMP)
- Polygon (MATIC)
- Solana (SOL)
- Shiba Inu (SHIB).
What they’re saying: “We’re excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto,” said Steve Quirk, chief brokerage Officer at Robinhood, in a statement. “As a safety-first company, we have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto platform.”
The bigger picture: You’ll notice that the Shiba Inu cryptocurrency coin has joined Robinhood, which represents a culmination of rumors and reports that it would happen.
- Last fall, there was a slew of rumors that Shiba Inu coin joined Robinhood’s cryptocurrency trading app, which is considered one of the biggest mainstream cryptocurrency trading platforms — similar to Coinbase.
- Shib coin previously joined both Coinbase and Public, a retail trading app that rivals Robinhood. The Robinhood addition was deemed a final piece of the puzzle for the cryptocurrency coin.